An ecosocialist blog

Banking petition

A parliamentary committee has just kicked off an investigation into the banks. They were told to look into banking after the scandal in the summer. [1] These MPs could clean up banks for good. But will they? If all bankers get is a slap on the wrist they’ll carry on as if nothing’s changed.

Bankers are pleased it’s MPs and Lords looking into what they’ve been up to rather than a judge. That’s because in the past they’ve expected to be able to twist MPs’ arms so they get an easier ride. But the MPs on the committee need our votes to stay in their jobs. So let’s remind them who they really work for, with a petition signed by tens of thousands of us, telling them to get tough with the banks.

It’s not long since the Bob Diamond scandal, but some MPs might think public outrage has faded. Let’s prove it hasn’t. A massive petition will let them know that we think banks should work for all of us, not just a few super-wealthy bankers.

There are over a million 38 Degrees members across the UK – including lots in the local constituencies of the committee MPs. So we can take our message right to their doorsteps. If MPs give banks an easy ride, we’ll target them locally to let voters know who their MP is really representing.

To make sure the MPs hear us loud and clear, we’re teaming up with Which? Their consumer clout combined with 38 Degrees people power is a formidable combination. When we took on powerful energy companies together earlier this year, we ended up saving thousands of people a total of over £8 million on their bills. [2] Now, let’s stir up the banks in the same way.

All of us paid to bail out the banks. They should put customers before huge bankers’ bonuses. We need tougher rules to keep banks in line and proper punishments for bankers who break them. It should be easier to move our money when we’re not happy.